Home / Knowledge / News / Apparel/Garments / Wolverine's net income falls 7.99% last fiscal
Wolverine's net income falls 7.99% last fiscal
25
Feb '16
Courtesy: Wolverine Worldwide Inc
Courtesy: Wolverine Worldwide Inc
Wolverine, a US based apparel and accessories supplier, reported a fall of 7.99 per cent in its net earnings to $123.2 million in the fiscal year ending on January 2, 2016 as compared to $133.9 million in the fiscal year ending on January 3, 2015, according to a press statement released by the company.

Diluted EPS was reported to be $1.20 in this period as compared to $1.30 in the corresponding last fiscal, a fall of 8.33 per cent.

Operating profit was reported at $201.1 million as compared to $229.9 million, a fall of 14.32 per cent.

The revenue for this year was $2,691.6 million as compared to $2,761.1 million, a fall of 2.51 per cent.

Commenting on the results, Mike Stornant, senior vice president and chief financial officer of Wolverine said, “This last quarter was incredibly volatile for the whole industry as global economic pressures worsened, holiday sales were tepid and unseasonably warm weather impacted many regions. We foreshadowed these challenging conditions in mid-September.”

“Since early September, we’ve made important leadership and organisational changes focused on fixing under-performing areas of the business. We are confident we are well-positioned to navigate the challenging global landscape in front of us,” he added. (MCJ)

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search